On May 3 in London, Samsung will finally unveil the Galaxy S III, a device that nearly every Android lover—and even some iPhone owners—are excited to see. The company has made the smart move of ignoring calls to hand over some details before the official unveiling, instead allowing the rumor mill to do what it does best and manufacture stories related to what the device might offer. Some of those rumored features might eventually make their way to the device, but we will have to wait until May 3 to find out.

Either way, the Galaxy S III could very well be the biggest launch of 2012 so far. Despite countless devices making an appearance at Mobile World Congress in Barcelona earlier this year, it was really Samsung’s flagship smartphone that everyone wanted to see. But it ended up a no-show as Samsung decided it wanted to make its own big splash with the Galaxy S III later this spring. In a little over those frustrated fans will be able to do just that.

But before that happens, it might be a good time to examine the competitive landscape and determine what features the Galaxy S III should ship with to live up to all the hype. Samsung might be doing well for now, but a single misstep in its Galaxy line could yield massively negative results.

Read on to find out what Samsung much build into the Galaxy S III to hold the attention of smartphone buyers this year.

1. A quad-core processor

Apple made the odd decision to bundle the A5X processor in the new iPad. By doing so, it offered quad-core GPU performance, but a dual-core CPU. Chances are, the company will deliver the same chip in the iPhone 5. So, to differentiate its own product and stay a step ahead, Samsung should bring a full quad-core chip to the Galaxy S III.

2. Android 4.0 (Ice Cream Sandwich)

Google’s Android 4.0 (Ice Cream Sandwich) platform is really the only version of the company’s software that should be making its way to the Galaxy S III. After all, Samsung’s device will be the latest and greatest smartphone on store shelves. Why shouldn’t it run the latest and greatest Android version?

3. 4G LTE

It’s no secret that 3G is on its way out. In the U.S., just about every carrier is spending serious cash on 4G LTE. With this in mind, Samsung should bundle the technology in its flagship smartphone and put the onus on Apple to respond with the same feature.

4. That 4.6-inch display

According to the latest rumors surrounding the Galaxy S III, the device will be coming with a 4.6-inch Super AMOLED display that could very well make the iPhone’s Retina Display look rather dull in comparison. Such an inclusion would be a huge boon for Samsung’s business.